(UPDATES) Fuel prices were rolled back this week by more than P1 beginning Tuesday.
The prices of gasoline dropped by P1.55 per liter, diesel by P1.30 per liter and kerosene by P1.40 per liter.
The Department of Energy’s Oil Industry Management Bureau said the rollback was sparked by news that the Organization of Petroleum Exporting Countries and its allies (OPEC+) were planning to boost output by 180,000 barrels per day in October and because of the recovery of Libyan oil production.
Since January, however, the price of gasoline has risen by P5.85 and diesel by P3.05.
Kerosene has a total net decrease of P4.70.
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